China's BoCom in talks to buy Brazilian lender BBM - Bloomberg

May 15 (Reuters) - Bank of Communications Co Ltd
(BoCom), China's fifth-biggest lender, is nearing a deal to buy
about 80 percent of Brazilian lender Banco BBM SA for
about $200 million in what would be the bank's first overseas
acquisition, Bloomberg reported, citing people with knowledge of
the matter.

BBM's founding Mariani family will keep the remaining stake
in the bank, Bloomberg reported. (bloom.bg/1HgScit)

The Shanghai-headquartered lender is a joint-stock bank,
whose biggest shareholder is the Ministry of Finance.

The deal could be announced as soon as next week during
Chinese Premier Li Keqiang's visit to Brazil, the report said.

Representatives at BoCom did not immediately respond to a
request for comment. Reuters could not immediately reach Banco
BBM for comment outside regular business hours.
($1 = 6.2047 Chinese yuan)
(Reporting by Rishika Sadam in Bengaluru and David Lin in
Shanghai; Editing by Gopakumar Warrier)